Target: 1.1600
Risk: 1.0700
Technical Reasons:
The EURUSD pair begins the breaching process to the descending channel’s resistance, getting positive support from the exponential moving averages 50 and 100, which opens the way to turn the trend upwards.
Signs of double bottom pattern appear now, and this pattern’s neckline is located at 1.1050, while stochastic positivity is waited to push the price to breach this level and confirm the continuation of the bullish trend on the short term basis.
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Risk: 1.0700
Technical Reasons:
The EURUSD pair begins the breaching process to the descending channel’s resistance, getting positive support from the exponential moving averages 50 and 100, which opens the way to turn the trend upwards.
Signs of double bottom pattern appear now, and this pattern’s neckline is located at 1.1050, while stochastic positivity is waited to push the price to breach this level and confirm the continuation of the bullish trend on the short term basis.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
plus.google.com/1054...15961677289743/posts
